Corsair Capital Management L.P. Makes New $1 Million Investment in Navios Maritime Partners L.P. (NYSE:NMM)

Corsair Capital Management L.P. purchased a new stake in Navios Maritime Partners L.P. (NYSE:NMM) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 15,959 shares of the shipping company’s stock, valued at approximately $1,000,000. Corsair Capital Management L.P. owned 0.05% of Navios Maritime Partners as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Virtu Financial LLC bought a new position in Navios Maritime Partners in the 1st quarter valued at about $452,000. Tactive Advisors LLC purchased a new position in shares of Navios Maritime Partners during the 1st quarter valued at $442,000. Commonwealth Equity Services LLC increased its position in Navios Maritime Partners by 1.7% in the 2nd quarter. Commonwealth Equity Services LLC now owns 131,707 shares of the shipping company’s stock worth $6,721,000 after purchasing an additional 2,169 shares during the last quarter. Acadian Asset Management LLC raised its position in Navios Maritime Partners by 870.2% during the second quarter. Acadian Asset Management LLC now owns 126,709 shares of the shipping company’s stock valued at $6,463,000 after acquiring an additional 113,649 shares in the last quarter. Finally, Main Street Financial Solutions LLC increased its position in Navios Maritime Partners by 2,977.2% during the second quarter. Main Street Financial Solutions LLC now owns 750,835 shares of the shipping company’s stock worth $38,315,000 after buying an additional 726,435 shares during the last quarter. Institutional investors own 62.74% of the company’s stock.

Navios Maritime Partners Stock Down 0.8 %

Shares of NYSE NMM opened at $47.20 on Wednesday. Navios Maritime Partners L.P. has a 52-week low of $24.51 and a 52-week high of $65.89. The stock has a market cap of $1.41 billion, a P/E ratio of 3.61 and a beta of 1.99. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.69 and a current ratio of 0.69. The firm has a 50 day moving average price of $56.88 and a 200 day moving average price of $52.22.

Navios Maritime Partners (NYSE:NMM) last announced its quarterly earnings data on Tuesday, November 5th. The shipping company reported $3.15 EPS for the quarter, missing analysts’ consensus estimates of $3.80 by ($0.65). Navios Maritime Partners had a return on equity of 13.86% and a net margin of 30.48%. The business had revenue of $340.84 million during the quarter, compared to the consensus estimate of $326.32 million. During the same period in the prior year, the firm earned $2.68 EPS. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. Analysts expect that Navios Maritime Partners L.P. will post 12.37 EPS for the current year.

Navios Maritime Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, November 12th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.42%. Navios Maritime Partners’s payout ratio is 1.52%.

Analyst Ratings Changes

NMM has been the topic of a number of recent analyst reports. Jefferies Financial Group lifted their price objective on Navios Maritime Partners from $65.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. StockNews.com upgraded shares of Navios Maritime Partners from a “hold” rating to a “buy” rating in a research report on Wednesday, August 21st.

About Navios Maritime Partners

Navios Maritime Partners L.P. owns and operates dry cargo vessels in Asia, Europe, North America, and Australia. The company offers seaborne transportation services for a range of liquid and dry cargo commodities, including crude oil, refined petroleum, chemicals, iron ore, coal, grain, fertilizer, and containers, as well as charters its vessels under short, medium, and longer-term charters.